Transportation Industry

Company Watch - Gulf Air

AirGuide Business, Sept 8, 2008

Sep 7, 2008

Gulf Air also announced a firm order for 35 single aisle and widebody aircraft from Airbus in May. That deal was worth around USD$4.5 billion at list prices. Gulf Air is owned by Bahrain Mumtalakat Holdings, a USD$10 billion state-owned investment agency. Gulf Air last year reduced its network and cuts its work force by about 25 percent, or some 1,500 jobs, after announcing losses of more than USD$1 million a day. Sep 4, 2008

Gulf Air has firmed up an order for eight new Boeing 787s, raising to 24 the total number of new planes it is awaiting delivery, the state news agency reported. The Gulf Arab kingdom already had an order for 16 Boeing 787s with an option to add eight more. The news agency did not put a value on the order, but all 24 were worth about USD$3.9 billion at list prices when the deal was struck in January. Bahrain state-owned Gulf Air said in April it had no plans to cancel its Boeing order after the plane maker announced a further six month production delay that had airlines lining up for compensation. The 787 had been held up as Boeing made slow progress on assembling the plane and struggled to make suppliers perform. The original 16 planes are due for delivery in 2016. Sep 4, 2008

Editorial eMail: edit@AirGuideOnline.com

For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com

For Advertising and Marketing: advert@AirGuideOnline.com

For Custom Content: content@AirGuideOnline.com